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Indian River County I Impact Fee Update Study <br /> Affordable Growth Strategy <br /> Based on the data shown in Table IV-5, the County will use $694,000 per year of sales tax <br /> revenues for the next five years. In addition, the County uses approximately $25,000 per <br /> year of recurring non-impact fee funding for capacity projects. During the next 25 years, <br /> Indian River County is expected to grow at an average annual rate of 1.4 percent. Figure IV- <br /> 1 presents how impact fee levels would change over time with different growth rates. As <br /> shown, the red horizontal line represents the maximum technically acceptable fee. This <br /> level is compared to investment needed to maintain the current LOS. Although the County <br /> may charge the maximum amount of public buildings impact fee calculated, if the historical <br /> levels of non-impact fee funding were to be continued, the County could adopt the impact <br /> fee at approximately 90 percent for all land uses and continue to maintain the adopted LOS <br /> standard used in the calculations. If the County decides to charge the residential land uses <br /> the full calculated fee (at 100 percent), the fee adoption rate for non-residential land could <br /> be reduced to 52 percent and still maintain the adopted LOS standard. As mentioned <br /> previously, these calculations assume that the sales tax will not be re-adopted in 2019. If <br /> the sales tax is re-adopted in 2019 or another revenue source becomes available for public <br /> buildings capital projects, these calculations need to be revised. Finally, the level of <br /> discount is a policy decision and could be at any level between the minimum levels <br /> calculated in this section and 100 percent and still maintain the adopted LOS standard. <br /> Figure IV-1 <br /> Public Buildings Impact Fee—Affordable Growth Approach <br /> ------------------------------------- <br /> ---------------- <br /> 100% <br /> 80% ------- ---- ---- --- <br /> ---------•------------- <br /> � 90% Total Cost <br /> 60% -------- <br /> LOS <br /> - — ------------------------------------------------- Maximum impact Fee -. <br /> LOS Curve <br /> Annual Gro <br /> 40% IRC Avera a-- --------------------------- <br /> wth <br /> ----------------------- <br /> 0% ' ' <br /> 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 10.00% <br /> Annual Growth Rate <br /> Tindale-Oliver&Associates, Inc. Indian River County <br /> June 2014 44 Impact Fee Update Study <br /> ZQ <br />